Gaming software firm Balancy has raised $700,000 in a funding round led by mobile industry veterans.

As reported by Pocket Gamer, the funds raised will be used to grow Balancy’s software as service platform, and its ability to aid small and mid-size studios to run and monetise live service games.

The company received investment from SplitMetrics CEO Max Kamenkov, Zariba Group and Casualino founder Radostin Petrov, Venison and Braavo Capital CEO Sergei Kovalenko, and former vice president of development at World of Warcraft Seth Sivak.

Balancy was founded in 2022 by Pavel Ignatov, Andrei Apanasik, and Julia Iljuk, who have 30 years of combined industry experience.

“We aim to empower promising midsize and smaller studios to navigate the competition amid a challenging market and the highest CPI (cost per install) numbers in mobile history,” said Balancy CEO Ignatov.

“Investor support propels us towards ambitious roadmap milestones, including innovative ML/AI monetisation solutions and expanding the technology across various engines beyond Unity.”